Your bank doesn't have your money. It has a bet that you won't ask for it back. Discover how fractional reserve banking turns $10,000 into $90,000 in loans.
If every customer of Bank of America tried to withdraw their money on the same day, the bank would be insolvent before noon. This is not a bug in the system — it is the system.
Silicon Valley Bank lost $42 billion in 48 hours—not from bad loans, but from a Twitter-fueled panic. Discover why your bank is always one viral post away from collapse.
The 2008 financial crisis almost destroyed the global economy. Andrew Ross Sorkin's fly-on-the-wall account reveals the human psychology behind market collapses.
In 2008, US taxpayers gave $700 billion to the banks that caused the crisis. Shareholders kept gains, executives kept bonuses. This is moral hazard as policy.